Tuesday, October 13, 2015

What's Going on With Our Market??

I see some agents panicking a bit out here in Santa Clarita. Well, one in particular. She does that. But regardless, people are chatting in my industry about what's happening in the market.

Listed a townhouse, same floor plan, same condition flew off the market in 1 week beginning of September. Mine is now at day 18 of days on market with no hint of an offer. Well there was a hint of one and the buyers daughter said she shouldn't buy it. Dang kids!

Another listing received multiple offers in the first week but they were 99% contingent so we selected what appeared to be the best offer with the contingent home being priced most appropriately and in a great location. That buyers' home is now sitting 9 days on market. A month ago it would have been in escrow already.

Inventory is a little seasonally down. Interest rates took a little dip too. But, the housing market feels like it's skidded to a halt....well, not really, but a little bit.

But those red cones may be trying to tell us something........

Or not. Honestly we're hitting the slower home selling season. Job growth report was a bit iffy. The scare of a possible interest hike didn't happen, so buyers are being a bit choosier in my opinion.

SPOILER ALERT ~ This is of course, just my opinion. And I'm happy to see this little bit of a stall. It keeps sellers on this planet instead of Mars when it comes to pricing. It makes for the stability of a market when sales slow down a little bit. It does make it challenging for a seller needing to sell and buy a replacement home, but it does keep things on this planet we all live on called Earth.

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